Property tax rate estimated to increase to $14 dollars next year

Friday

Oct 11, 2013 at 12:01 AMOct 11, 2013 at 1:59 AM

Two years ago, Rockford’s property tax rate was just over $12 per hundred dollars assessed valuation. Rockford area property owners will be shocked to know the estimated property tax rate for tax code 001 will be just shy of $14 dollars in 2014!

In a previous blog post, it was explained that an unintended consequence of the Illinois Tax Cap law allows taxing bodies, without referendum, to levy the same amount of taxes levied the previous year, plus ...

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Ted Biondo

Two years ago, Rockford’s property tax rate was just over $12 per hundred dollars assessed valuation. Rockford area property owners will be shocked to know the estimated property tax rate for tax code 001 will be just shy of $14 dollars in 2014!

In a previous blog post, it was explained that an unintended consequence of the Illinois Tax Cap law allows taxing bodies, without referendum, to levy the same amount of taxes levied the previous year, plus ...